SENATE BILL: COVID-19 Economic Stimulus Act (Passed)

[Former President tack50]

Sponsoring Thumb's amendment.

I hope it gets added to the bill (or voted on if someone objects); as opposed to jumping straight to a final vote.

[The world will shine with light in our nightmare]

The amendment is friendly.

[Southern Senator North Carolina Yankee]

Senators have 24 hours to object.

[Southern Senator North Carolina Yankee]

I hope it gets added to the bill (or voted on if someone objects); as opposed to jumping straight to a final vote.

read my full post above.

[Southern Senator North Carolina Yankee]

The amendment has been adopted.

[Former President tack50]

Just before we move to a final vote can someone make sure the House and Senate versions are the exact same? They should be thanks to Thumb's amendment right?

[thumb21]

The house has just passed the bill!

A BILL
To rescue the Atlasian economy

Be it enacted in both houses of Congress assembled

Section 1. Title
1. This legislation may be cited as the Emergency Economic Stimulus Act of 2020.
Section 2. Temporary universal income
1. Every Atlasian adult citizen at 18 years of age or above, regardless of income or employment status, shall receive $2000 on the first day of each month from April 1, 2020 until October 1, 2020.
2. Every applicable household shall receive $1000 per child on the first day of each month from April 1, 2020 until October 1, 2020.
3. From October 1, 2020, the universal income shall decrease by 25% on the first day of each month until it is eliminated.
4. A congressional vote shall begin 14 days before October 1, 2020 in both houses of Congress for Congress to decide whether or not to extend the universal income.
a) The vote shall be a simple 'Aye' or 'Nay' on the extension. If Aye receives a majority in both houses of Congress then Congress shall be able to decide on the length of the extension. The default shall be for the universal income to continue in full until January 1, 2021, in the event of an Aye vote-unless Congress legislates for an alternative end date.
Section 3; Permanent Stimulus Measures
1. The income tax brackets are altered as follows-
a) 0-13K from 10% to 7%
b) 13k-50k from 15% to 12%
c) 50k-130k from 25% to 23%
2. The corporate tax brackets are altered until the 1st of August 2021 as follows-
a) 100k-1 M from 15% to 14%
Section 4; Financial Assistance for Affected Businesses
1. The following financial assistance shall be made available to provide liquidity to eligible businesses related to losses incurred as a direct result of coronavirus, the Department of the Treasury is authorized to make or guarantee loans to eligible businesses.
a) Loans and loan guarantees made pursuant to this section shall be made available to eligible businesses as follows-
i) Not more than $50 billion shall be available for businesses in the Air Transportation subsector.
ii) Not more than $80 billion shall be available for businesses in the Leisure and Hospitality supersector.
iii) Not more than $50 billion shall be available for businesses in the Construction sector.
iv) Not more than $60 billion shall be available for businesses in the Manufacturing sector.
v) Not more than $15 billion shall be available for businesses in the Natural Resources and Mining supersector.
vi) Not more than $15 billion shall be available for businesses in the Repair and Maintenance subsector.
vii) Not more than $20 billion shall be available for businesses in the Personal and Laundry Services subsector.
viii) Not more than $5 billion shall be available for businesses in the Rail Transportation subsector.
ix) Not more than $10 billion shall be available for businesses in the Transit and Ground Passenger Transportation subsector.
x) Not more than $0.5 billion shall be available for businesses in the Scenic and Sightseeing Transportation subsector.
xi) Not more than $5 billion shall be available for businesses in the Support Activities for Transportation subsector.
xii) Not more than $15 billion shall be available for businesses in the Warehousing and Storage subsector.
xiii) Not more than $100 billion shall be available for other eligible businesses.
b) As soon as practicable, but no later than 10 days after the date of enactment of this Act, the Attorney General shall publish procedures for application and minimum requirements for the making of loans and loan guarantees under this section.
c) Amounts collected from businesses that received loans or loan guarantees under this section shall be deposited in the Treasury.
d) A business is eligible for the loans made available in this section if the business-
i) Is based in the Republic of Atlasia.
ii) Has incurred losses as a result of coronavirus such that the continued operations of the business are jeopardized, as determined by the Department of the Treasury.
e) The Attorney General may use $100 million of the funds made available under this section to pay costs and administrative expenses associated with the provision of direct loans or guarantees authorized under this section.
2. The following conditions are attached to the financial assistance for recipient corporations-
a) Recipient companies are forbidden for one year after receiving their assistance from taking actions that result in a net decrease in the number of individuals on their payroll or reduce employees hours without their consent, unless based solely on documented serious employee incompetence or bad faith actions (provided other remedies have proven infeasible).
b) Recipient companies are forbidden for five years after receiving their assistance from engaging in share repurchases.
c) Recipient companies are forbidden for all the time they are receiving their assistance and for three years thereafter from paying out dividends or executive bonuses.
d) Recipient companies must permanently set aside at least one seat on the board of directors for a representative elected by their workers.
e) Recipient companies shall have all their collective bargaining agreements remain in place and for one year after receiving assistance said agreements shall not be reopened or renegotiated.
f) CEOs of recipient companies shall personally certify their company is in compliance and face criminal penalty of up to 10 years in prison or a fine not exceeding $50 million for false certifications.
g) A Coronavirus Financial Assistance Oversight Panel shall be established to enforce these conditions, with $20 million appropriated for it and with the ability to issue subpoenas to the recipient companies and individuals involved.

Section 5. Spending freezes
1a. Citizens, permanent residents and households in the Republic of Atlasia who do not have a source of income above the federal minimum wage between April 1, 2020 and October 1, 2020; may not be evicted from their house, nor their supply of water, electricity or internet cut off; for not paying the appropiate bills.
1b. Between October 2nd, 2020 and January 31st, 2021; utilities may be cut for not paying their appropiate bills, but no tenants shall be evicted from their house for not paying the appropiate mortgage or rent bills.
1c. After January 31st, 2021; companies and tenants may rise the appropiate bills by no more than 10% in order to recover the unpaid dues.
2. The earning of unemployment benefits between April 1st, 2020 and October 1st, 2020 shall not affect in any way the collection of future unemployment benefits.
3. The payments discussed in Sections 2.1 and 2.2 shall not be counted towards the federal minimum wage accounting discussed in Section 4.1

House of Representatives
Passed the House of Representatives 7-0-1-1

[Southern Senator North Carolina Yankee]

I just went line by line, and it appears to be the same Tack.


Senators, a vote is now open on this legislation, Senators please vote Aye, Nay or Abstain.

[Southern Senator North Carolina Yankee]

AYE


I want to close this when I get home, so I require votes be cast ASAP.

[Former President tack50]

Aye

[At-Large Senator LouisvilleThunder]

Aye

[The world will shine with light in our nightmare]

Aye

[Pyro]

Aye

[Southern Senator North Carolina Yankee]

Vote on Final Passage of the Covid-19 Economic Stimulus Act:

Aye (5): LT, NC Yankee, Pyro, Scott and Tack50
Nay(0):
Abstain (0):

Didn't Vote (1): Devout Centrist.


This bill has passed and is sent to the VP.

[Southern Senator North Carolina Yankee]

A BILL
To rescue the Atlasian economy

Be it enacted in both houses of Congress assembled

Section 1. Title
1. This legislation may be cited as the Emergency Economic Stimulus Act of 2020.
Section 2. Temporary universal income
1. Every Atlasian adult citizen at 18 years of age or above, regardless of income or employment status, shall receive $2000 on the first day of each month from April 1, 2020 until October 1, 2020.
2. Every applicable household shall receive $1000 per child on the first day of each month from April 1, 2020 until October 1, 2020.
3. From October 1, 2020, the universal income shall decrease by 25% on the first day of each month until it is eliminated.
4. A congressional vote shall begin 14 days before October 1, 2020 in both houses of Congress for Congress to decide whether or not to extend the universal income.
a) The vote shall be a simple 'Aye' or 'Nay' on the extension. If Aye receives a majority in both houses of Congress then Congress shall be able to decide on the length of the extension. The default shall be for the universal income to continue in full until January 1, 2021, in the event of an Aye vote-unless Congress legislates for an alternative end date.
Section 3; Permanent Stimulus Measures
1. The income tax brackets are altered as follows-
a) 0-13K from 10% to 7%
b) 13k-50k from 15% to 12%
c) 50k-130k from 25% to 23%
2. The corporate tax brackets are altered until the 1st of August 2021 as follows-
a) 100k-1 M from 15% to 14%
Section 4; Financial Assistance for Affected Businesses
1. The following financial assistance shall be made available to provide liquidity to eligible businesses related to losses incurred as a direct result of coronavirus, the Department of the Treasury is authorized to make or guarantee loans to eligible businesses.
a) Loans and loan guarantees made pursuant to this section shall be made available to eligible businesses as follows-
i) Not more than $50 billion shall be available for businesses in the Air Transportation subsector.
ii) Not more than $80 billion shall be available for businesses in the Leisure and Hospitality supersector.
iii) Not more than $50 billion shall be available for businesses in the Construction sector.
iv) Not more than $60 billion shall be available for businesses in the Manufacturing sector.
v) Not more than $15 billion shall be available for businesses in the Natural Resources and Mining supersector.
vi) Not more than $15 billion shall be available for businesses in the Repair and Maintenance subsector.
vii) Not more than $20 billion shall be available for businesses in the Personal and Laundry Services subsector.
viii) Not more than $5 billion shall be available for businesses in the Rail Transportation subsector.
ix) Not more than $10 billion shall be available for businesses in the Transit and Ground Passenger Transportation subsector.
x) Not more than $0.5 billion shall be available for businesses in the Scenic and Sightseeing Transportation subsector.
xi) Not more than $5 billion shall be available for businesses in the Support Activities for Transportation subsector.
xii) Not more than $15 billion shall be available for businesses in the Warehousing and Storage subsector.
xiii) Not more than $100 billion shall be available for other eligible businesses.
b) As soon as practicable, but no later than 10 days after the date of enactment of this Act, the Attorney General shall publish procedures for application and minimum requirements for the making of loans and loan guarantees under this section.
c) Amounts collected from businesses that received loans or loan guarantees under this section shall be deposited in the Treasury.
d) A business is eligible for the loans made available in this section if the business-
i) Is based in the Republic of Atlasia.
ii) Has incurred losses as a result of coronavirus such that the continued operations of the business are jeopardized, as determined by the Department of the Treasury.
e) The Attorney General may use $100 million of the funds made available under this section to pay costs and administrative expenses associated with the provision of direct loans or guarantees authorized under this section.
2. The following conditions are attached to the financial assistance for recipient corporations-
a) Recipient companies are forbidden for one year after receiving their assistance from taking actions that result in a net decrease in the number of individuals on their payroll or reduce employees hours without their consent, unless based solely on documented serious employee incompetence or bad faith actions (provided other remedies have proven infeasible).
b) Recipient companies are forbidden for five years after receiving their assistance from engaging in share repurchases.
c) Recipient companies are forbidden for all the time they are receiving their assistance and for three years thereafter from paying out dividends or executive bonuses.
d) Recipient companies must permanently set aside at least one seat on the board of directors for a representative elected by their workers.
e) Recipient companies shall have all their collective bargaining agreements remain in place and for one year after receiving assistance said agreements shall not be reopened or renegotiated.
f) CEOs of recipient companies shall personally certify their company is in compliance and face criminal penalty of up to 10 years in prison or a fine not exceeding $50 million for false certifications.
g) A Coronavirus Financial Assistance Oversight Panel shall be established to enforce these conditions, with $20 million appropriated for it and with the ability to issue subpoenas to the recipient companies and individuals involved.

Section 5. Spending freezes
1a. Citizens, permanent residents and households in the Republic of Atlasia who do not have a source of income above the federal minimum wage between April 1, 2020 and October 1, 2020; may not be evicted from their house, nor their supply of water, electricity or internet cut off; for not paying the appropiate bills.
1b. Between October 2nd, 2020 and January 31st, 2021; utilities may be cut for not paying their appropiate bills, but no tenants shall be evicted from their house for not paying the appropiate mortgage or rent bills.
1c. After January 31st, 2021; companies and tenants may rise the appropiate bills by no more than 10% in order to recover the unpaid dues.
2. The earning of unemployment benefits between April 1st, 2020 and October 1st, 2020 shall not affect in any way the collection of future unemployment benefits.
3. The payments discussed in Sections 2.1 and 2.2 shall not be counted towards the federal minimum wage accounting discussed in Section 4.1

People's Regional Senate
Passed 5-0 in the Atlasian Senate Assembled,

[thumb21]

The people are urgently waiting for their Periclesbucks/Scottbucks! Please don't forget to sign Mr. President/Vice President

[Peanut]

A BILL
To rescue the Atlasian economy

Be it enacted in both houses of Congress assembled

Section 1. Title
1. This legislation may be cited as the Emergency Economic Stimulus Act of 2020.
Section 2. Temporary universal income
1. Every Atlasian adult citizen at 18 years of age or above, regardless of income or employment status, shall receive $2000 on the first day of each month from April 1, 2020 until October 1, 2020.
2. Every applicable household shall receive $1000 per child on the first day of each month from April 1, 2020 until October 1, 2020.
3. From October 1, 2020, the universal income shall decrease by 25% on the first day of each month until it is eliminated.
4. A congressional vote shall begin 14 days before October 1, 2020 in both houses of Congress for Congress to decide whether or not to extend the universal income.
a) The vote shall be a simple 'Aye' or 'Nay' on the extension. If Aye receives a majority in both houses of Congress then Congress shall be able to decide on the length of the extension. The default shall be for the universal income to continue in full until January 1, 2021, in the event of an Aye vote-unless Congress legislates for an alternative end date.
Section 3; Permanent Stimulus Measures
1. The income tax brackets are altered as follows-
a) 0-13K from 10% to 7%
b) 13k-50k from 15% to 12%
c) 50k-130k from 25% to 23%
2. The corporate tax brackets are altered until the 1st of August 2021 as follows-
a) 100k-1 M from 15% to 14%
Section 4; Financial Assistance for Affected Businesses
1. The following financial assistance shall be made available to provide liquidity to eligible businesses related to losses incurred as a direct result of coronavirus, the Department of the Treasury is authorized to make or guarantee loans to eligible businesses.
a) Loans and loan guarantees made pursuant to this section shall be made available to eligible businesses as follows-
i) Not more than $50 billion shall be available for businesses in the Air Transportation subsector.
ii) Not more than $80 billion shall be available for businesses in the Leisure and Hospitality supersector.
iii) Not more than $50 billion shall be available for businesses in the Construction sector.
iv) Not more than $60 billion shall be available for businesses in the Manufacturing sector.
v) Not more than $15 billion shall be available for businesses in the Natural Resources and Mining supersector.
vi) Not more than $15 billion shall be available for businesses in the Repair and Maintenance subsector.
vii) Not more than $20 billion shall be available for businesses in the Personal and Laundry Services subsector.
viii) Not more than $5 billion shall be available for businesses in the Rail Transportation subsector.
ix) Not more than $10 billion shall be available for businesses in the Transit and Ground Passenger Transportation subsector.
x) Not more than $0.5 billion shall be available for businesses in the Scenic and Sightseeing Transportation subsector.
xi) Not more than $5 billion shall be available for businesses in the Support Activities for Transportation subsector.
xii) Not more than $15 billion shall be available for businesses in the Warehousing and Storage subsector.
xiii) Not more than $100 billion shall be available for other eligible businesses.
b) As soon as practicable, but no later than 10 days after the date of enactment of this Act, the Attorney General shall publish procedures for application and minimum requirements for the making of loans and loan guarantees under this section.
c) Amounts collected from businesses that received loans or loan guarantees under this section shall be deposited in the Treasury.
d) A business is eligible for the loans made available in this section if the business-
i) Is based in the Republic of Atlasia.
ii) Has incurred losses as a result of coronavirus such that the continued operations of the business are jeopardized, as determined by the Department of the Treasury.
e) The Attorney General may use $100 million of the funds made available under this section to pay costs and administrative expenses associated with the provision of direct loans or guarantees authorized under this section.
2. The following conditions are attached to the financial assistance for recipient corporations-
a) Recipient companies are forbidden for one year after receiving their assistance from taking actions that result in a net decrease in the number of individuals on their payroll or reduce employees hours without their consent, unless based solely on documented serious employee incompetence or bad faith actions (provided other remedies have proven infeasible).
b) Recipient companies are forbidden for five years after receiving their assistance from engaging in share repurchases.
c) Recipient companies are forbidden for all the time they are receiving their assistance and for three years thereafter from paying out dividends or executive bonuses.
d) Recipient companies must permanently set aside at least one seat on the board of directors for a representative elected by their workers.
e) Recipient companies shall have all their collective bargaining agreements remain in place and for one year after receiving assistance said agreements shall not be reopened or renegotiated.
f) CEOs of recipient companies shall personally certify their company is in compliance and face criminal penalty of up to 10 years in prison or a fine not exceeding $50 million for false certifications.
g) A Coronavirus Financial Assistance Oversight Panel shall be established to enforce these conditions, with $20 million appropriated for it and with the ability to issue subpoenas to the recipient companies and individuals involved.

Section 5. Spending freezes
1a. Citizens, permanent residents and households in the Republic of Atlasia who do not have a source of income above the federal minimum wage between April 1, 2020 and October 1, 2020; may not be evicted from their house, nor their supply of water, electricity or internet cut off; for not paying the appropiate bills.
1b. Between October 2nd, 2020 and January 31st, 2021; utilities may be cut for not paying their appropiate bills, but no tenants shall be evicted from their house for not paying the appropiate mortgage or rent bills.
1c. After January 31st, 2021; companies and tenants may rise the appropiate bills by no more than 10% in order to recover the unpaid dues.
2. The earning of unemployment benefits between April 1st, 2020 and October 1st, 2020 shall not affect in any way the collection of future unemployment benefits.
3. The payments discussed in Sections 2.1 and 2.2 shall not be counted towards the federal minimum wage accounting discussed in Section 4.1

House of Representatives
Passed the House of Representatives 7-0-1-1

People's Regional Senate
Passed 5-0 in the Atlasian Senate Assembled,